2014

CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates remain at 15.01 percent

AUSTIN, Texas, May 14, 2014 /PRNewswire/ -- Average rates on new credit card offers remained untouched this week, according to the CreditCards.com Weekly Credit Card Rate Report.

The average is comprised of 100 of the most popular credit cards in the country, including cards from dozens of leading U.S. issuers and representing every card category. Introductory (teaser) rates are not included in the calculation.

Rates for card categories tracked by CreditCards.com are listed below:

Credit Card Rate Averages





Avg. APR

Last week

6 months ago

National Average

15.01%

15.01%

15.05%

Low Interest

10.37%

10.37%

10.46%

Balance Transfer

12.64%

12.64%

12.55%

Business

12.80%

12.80%

12.98%

Student

13.27%

13.27%

13.27%

Cash Back

14.84%

14.84%

14.62%

Airline

15.30%

15.30%

14.51%

Reward

14.97%

14.97%

14.90%

Instant Approval

28.00%

28.00%

28.00%

Bad Credit

22.73%

22.73%

23.48%

Source: CreditCards.com

Updated: 5-14-2014

The national average annual percentage rate (APR) lingered at 15.01 percent Wednesday after increasing slightly the previous week.

None of the cards tracked by CreditCards.com advertised new terms. After retuning offers on a few cards earlier this month, issuers left unchanged their standard rates, 0 percent balance transfer offers and introductory APRs.

These days, issuers rarely change credit card terms. That's especially true for APRs. The national average APR, for example, has changed just five times since Jan. 1. Each time, the change has been miniscule.

Currently, average APRs are just slightly higher than they were a year ago. On May 15, 2013, for example, the average APR was 14.94 percent.

Average rates have remained above 15 percent since September.

The CreditCards.com credit card rate survey (permalink: http://www.creditcards.com/rate-report) is conducted weekly, using offer data from the leading U.S. card issuers' websites. Introductory offer periods and regular interest rates will vary with applicants' credit quality and issuer risk-based pricing policies.

About CreditCards.com
CreditCards.com is the leading online credit card marketplace connecting consumers with multiple credit card issuers, including a majority of the 10 largest in the United States, based on credit card transaction volume. CreditCards.com, http://www.creditcards.com, enables consumers to search for, compare and apply for credit cards and offers credit card issuers an online channel to acquire qualified applicants.

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SOURCE CreditCards.com



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